- The final building at Footscray Hospital has topped out.
- A DA has been lodged for a four-tower project in Woolloongabba.
- A 14,074 hectare aggregation has come to market.
Today’s property market wrap is a veritable mix of listings, milestones, and upcoming projects.
The Footscray Hospital development is gradually drawing to a close as the final building tops out, a massive 14,000-hectare aggregation hits the market, and a $1.5 billion build-to-rent and hotel project makes a DA application.
DA lodged for Brisbane apartment and hotel project
The development application for Gabba Heart Precinct has been lodged with Brisbane City Council.
The $1.5 billion, four-tower project is being undertaken through a joint venture between Belmonde Property Group and Sun Luxe Group. The project is being designed by Cottee Parker and sits on a 9,361 square metre site, which is located at 79 Logan Road, Woolloongabba.
The project will deliver 1,387 build-to-rent apartments across three towers, while the fourth tower will provide a hotel with 230 rooms and serviced apartments.
“This is the first of what I’m sure will be many developments to meet the needs of the 2032 Brisbane Olympic Games,” said Cottee Parker director, Martin Timms.
“This project will reactivate the heart of Woolloongabba, embracing Brisbane’s subtropical climate and showcase the best of Queensland’s unique climate and lifestyle with iconic architecture.
“The project’s vision also includes upgrading Logan Road to a high street that will maximise the existing road width and create a vibrant space for a new retail precinct.”
Melburnian Woolies listed for sale
Woolworths Metro Clifton Hill has come to market, following a $1.5 million renovation, completed in 2019. The freestanding property is 100% leased to Woolworths Group, with options until 2056, on a net lease with fixed annual 3% increases.
The triple frontage site is spread across 712 square metres and is zoned Commercial 1 Zone with a height limit of 14 metres. The property is located just three kilometres from the Melbourne CBD and includes frontages to Queens Parade and Gold Street.
“Demand remains incredibly strong for prime freestanding retail investments, particularly those in strategic metropolitan locations that are trading exceptionally well,” said Colliers director of retail middle markets in Victoria, Tim McIntosh.
“In current market conditions, investors are particularly attracted to the ultra-defensive and recession-proof characteristics coupled with attractive income growth that supermarkets provide.”
The on-site public auction will be held on Friday 15 September 2023.
NSW land aggregation comes to market
AAM Investment Group’s Sunshine Farms Aggregation has been listed for sale via an expressions of interest campaign with LAWD.
Positioned in the “backbone” of the state’s sheep and wheat belts, the aggregation includes 14,074 hectares of premium irrigated and dryland cropping and grazing land, across five non-contiguous holdings with a combined 14,766ML of water entitlements.
“Bergen Park” (2,835ha), “Warili” (1,111ha), “Glencoe” (3,666ha), “Sunshine” (4,820ha) and “Round Cowal” (1,643ha) are made up of high-quality clay loam soils ideal for mixed farming and located within a convenient 25 kilometre radius.
“Sunshine Farms was the first strategic land and development acquisition of the AAM Diversified Agriculture Fund (ADAF) in January 2020,” said AAM managing director, Garry Edward.
“With access to water entitlements from the Jemalong Irrigation Scheme, the properties offered potential that could be realised through strategic capital development programs and management at scale.”
The EoI closes on 5 October 2023.
Multiplex tops out Footscray Hospital project
The final building in the new Footscray Hospital has topped out.
The first three buildings in the precinct topped out earlier this year, with the latest building to reach the milestone being the hospital’s main clinical buildings, which includes a 10-storey inpatient unit (IPU) tower.
The IPU tower is situated along Geelong Road and includes the new emergency department.
The hospital will also include 50 mental health beds, 16 alcohol and or other drugs (AOD) beds, and a mental health and AOD hub.
“We’re thrilled to have topped out the concrete structure for the new Footscray Hospital. Topping out is a significant milestone for any project – but it’s particularly momentous for Footscray given the enormity and complexity of the site,” said Multiplex‘s Victorian regional managing director, Ross Snowball.
“Our biggest hospital project under construction is now structurally complete – and in just two years, families and our dedicated healthcare workers in the west will have access to the very best facilities,” said Victorian Minister for Health Infrastructure, Mary-Anne Thomas.